All Finance and Risk Management Committee (FRMC) members are independent.
Pursuant to its charter, the FRMC reviews
Bombardier’s material risks of a financial nature and the steps that management takes to monitor, control and manage these risks; and
the adequacy of policies, procedures and controls designed by management to assess and manage these risks.
It reviews and monitors, as the case may be, any significant or unusual transactions or projects related to Bombardier’s ongoing activities, significant business opportunities, mergers, acquisitions, divestitures, significant asset sales or purchases or equity investments. It goes over various matters or activities related to or involving the financial situation of Bombardier such as, for example, its capital structure, its long-term debt repayment profile, its compliance with covenants under credit facilities, its customer financing activities and programs, its foreign exchange hedging policies, procedures and controls, or its insurance program coverage and related risks.
The FRMC periodically reviews the fulfillment of Bombardier’s obligations under its various retirement plans and the investment of the assets of such plans. It also monitors periodically environmental matters.
The Chairman of the Board of Directors, the President and Chief Executive Officer and the Senior Vice President and Chief Financial Officer attend the meetings of the FRMC. They do not have the right to vote on any matter before the FRMC.